DGAP-Ad-hoc: METRO AG / Key word(s): Change in Forecast METRO AG adjusts outlook for the financial year 2017/18 20-Apr-2018 / 16:55 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Today METRO AG has adjusted its outlook for earnings and sales for the financial year 2017/18 in particular on the basis of reduced expectations for the second half-year of the financial year 2017/18 as compared to previous planning. The Management Board of METRO AG now expects the EBITDA* (exchange-rate adjusted and excluding earnings contributions from real estate transactions) of METRO to increase slightly - instead of by approximately 10% - in the financial year 2017/18 as compared to last year's result of EUR 1,436 million. With regard to overall sales METRO AG now expects a growth rate of minimum 0.5% in the financial year 2017/18 instead of a growth rate of minimum 1.1% (both figures exchange-rate adjusted). The reduced expectations are mainly based on the fact that the business of METRO AG in Russia is currently developing less favorably than expected. METRO AG had expected a significant improvement of the sales development in Russia for the second half-year. Instead, the Management Board now - also because of the further deteriorating geopolitical situation - expects sales in the second half-year to stay behind expectations. Furthermore the repositioning of the business will incur higher additional cost in the second half-year than previously expected. Overall, this leads to a decrease of the expected earnings contribution of METRO Russia. In addition to that, the tariff negotiations with the ver.di trade union on a competitive remuneration structure at Real have ended without an agreement. Although a viable alternative solution has been found and is being implemented, this fact will in the short and medium term, and therefore also in the third and fourth quarter, put a strain on earnings. Based on current assessment, this - certain positive effects in the portfolio notwithstanding - cannot entirely be compensated by the other divisions of METRO AG. The outlook for like-for-like sales is confirmed. The Management Board of METRO AG expects it to slightly surpass the 0.5% growth delivered in the reporting year 2016/17. METRO Wholesale is expected to make a significant contribution to this growth. METRO AG will publish its half-year financial report as scheduled on May 15, 2018. On the basis of preliminary data METRO AG expects overall sales of EUR 18,560 million, a like-for-like sales growth of 1.3% and an EBITDA (excluding earnings contributions from real estate transactions) of EUR 760 million for the first half-year. *A definition of EBITDA and other financial indicators can be found in the Annual Report 2016/17 - Consolidated financial statements of METRO AG from page 265. The Annual Report 2016/17 can be downloaded from https://reports.metroag.de/annual-report/2016-2017/servicepages/downloads/files/entire_metro_ar1617.pdf Contact: METRO AG Sabrina Ley Director Investor Relations --------------------------------------------------------------------------- 20-Apr-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: METRO AG Metro-Straße 1 40235 Dusseldorf Germany Phone: +49 (0)211 6886-1524 Fax: +49 (0)211 6886-3759 E-mail: [email protected] Internet: www.metroag.de ISIN: DE000BFB0019, DE000BFB0027 WKN: BFB001, BFB002 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxemburg End of Announcement DGAP News Service --------------------------------------------------------------------------- 677095 20-Apr-2018 CET/CEST